The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
According to this site AML have broker concensus of hold and target of 432.33p
https://www.marketbeat.com/stocks/LON/AML/
How knows
As was said yesterday;
Price was 62.6p at time of placing RNS
62.6p diluted by 20% = 52p I won't do the sums as I embarassingly got it wrong yesterday
Placing shares = 50p
Retail issue shares = 50p
So as I see it market level is in the 50 - 52p range until we get something to give it a nudge in either direction
pantarei - I didn't reply to you last night but I saw SOU around the end of Wave C. Didn't post as I didn't want anyone to think it was advice!
Shares ended at 2.85 up 117%. There was an RNS this morning about securing a deal to distribute LPG so that would have had an effect for sure. It's such a low cost share that fractions of a pence result in big %age swings so probably more luck than judgement.
@pantarei, agreed that the actual wave 1 started on 22nd. From 14th to 21st was a marco wave. If you shorten the timescale of the points you can see it.
Been thinking about the placing and how that affects the wave. From a Elliott Wave point of view it's an artificial event not created by investor sentiment or herd behaviour. Based on 20% dilution and 20% drop in price it's just a straight change down.
Based on this we should take the end of wave A down by 20% to 52.8. That is the theroetical point where we are back on wave 1.
Anyway see how we go tomorrow. I've carried out the same on SOU as I was asked to and have a theory, again we'll see how that goes.